Hochschild Mining Beats 2013 Silver Production Target

Hochschild Mining plc (LSE:HOC) released its 2013 production report, commenting that it exceeded its production target of 20 million ounces of silver, putting out a total of 20.5 million attributable silver equivalent ounces. That includes 13.6 million ounces of silver and 116,000 ounces of gold.

Other highlights include:

  • Cashflow optimisation programme delivering material cost and expenses savings
  • All-in sustaining cost expected to fall by between 12-16% in 2013
  • 2014 production target set at 21.0 million attributable silver equivalent ounces
  • All-in sustaining cost expected to fall by 0-5% in 2014
  • Acquisition of Pallancata and Inmaculada minorities completed on 20 December 2013
  • 350 million bond issuance priced on 15 January 2014
    • 7.750% Senior Notes due 2021
  • Pro-forma cash position of $347.2m2 and $53.8m3 of short-term borrowings as at 31 December 2013

Click here to read the full Hochschild Mining plc (LSE:HOC) press release.